Construction Maison

Capitalism is “a process of creative destruction” according to Austro- American economist Joseph Schumpeter . That is working out right now as new communications technologies are revolutionizing sectors like short-term housing and short- distance human transportation . I use these wordings rather than “hotel” and “taxi” because companies like Airbnb and Uber are changing the very meaning of these historic terms. Much of this is to the good, enabling society to get more satisfaction of human needs and wants from a given set of resources. But Schumpeter’s insight that economic creation inevitably is linked with destruction still applies. Innovations also destroy outdated businesses and products.  Airbnb is the one in the news right now as the St. Paul City Council considers new rules to limit the fraction of rental housing units that can be converted to short- term Airbnb units . That is an issue in many other cities. Airbnb and its small competitors also raise the same issue as Uber...

Samantha Madison ROME — The apartment complex slated to be built at the site of the former Dewitt Clinton School is getting larger. Rome's Common Council conducted a workshop with DePaul Properties last week, where representatives told them that they have expanded the project to include more units because of public feedback. The new plan is to have 80 apartments of new housing with a 66- unit apartment building and 14 townhomes. There will be 60 one-bedroom apartments and 20 two-bedroom units. Of those, 70 units are adaptable, which will be able to support those with mobility issues. The original plan was to have 60 units with 56 one-bedroom apartments and four two-bedroom apartments. Dewitt Clinton Apartments took another step forward at the Rome Common Council meeting last week, where after a public hearing where no one spoke, the council approved a zoning change. The vote changed the property to be a residential planned development district , which is considered an...